Category Archives: Joe Lubin

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ConsenSys, AMD to Develop W3BCloud, a Blockchain-Based Throughput Solution

ConsenSys, AMD to Develop W3BCloud, a Blockchain-Based Throughput Solution

A press release yesterday by blockchain software company ConsenSys detailed the inking of a new partnership deal with American multinational semiconductor company Advanced Micro Devices (AMD) and Abu Dhabi-based investment management firm Halo Holdings, to develop an optimized blockchain-based cloud solution dubbed W3BCloud for the blockchain industry throughput.

“W3BCLOUD is focused on providing the first independent cloud computing blockchain infrastructure, combining increased transaction throughput with state-of-the-art security,” the release states. The new infrastructure is being built to handle the emerging day-in and out of blockchain workloads to provide more efficiency in the space.

The three partners will combine their resource expertise in their field of technology. ConsenSys is to provide blockchain-related insights into “efficient compute usage for blockchain transactions, security requirements, and emerging use cases,” while AMD will leverage its renowned high-end performance hardware manufacturing specialties to build the datacenters with architectures that match the specific blockchain requirements.

Founder of ConsenSys, Joe Lubin said in regards to the newly forged partnership that “bolstering the compute power of blockchain networks with AMD’s leading-edge technology will be of great benefit to the scalable adoption of emerging decentralized systems around the globe.” Lubin expressed his usual enthusiasm for blockchain scaling, touting the envisaged product as one that “will power a new infrastructure layer and enable an accelerated proliferation of blockchain technologies.”

Joerg Roskowetz, Director of Product Management – Blockchain Technology at AMD also said in the release that they are “excited to work ConsenSys” and lend their expertise and “access to high-performance hardware technologies.” They are also optimistic about the concept of the emerging technology as well as the profound use case coverage, and are willing to play their role in the partnership to build systems “capable of better scaling and proliferating decentralized networks.”

Roskowetz identified “smart identity, enterprise data centers, and health ID tracking, to licensing and supply chain management,” as possible use cases where the new technology could be of use.

Both companies have been spreading roots within blockchain space. ConsenSys has been building up its reputation among high-interest groups both within and outside the blockchain ecosystem. It recently signed a Memorandum of Understanding with leading IT company SK Group to build and further develop the blockchain ecosystem.

AMD reportedly signed contracts with 7 major technology firms last year to develop eight high-end performance and enterprise-grade mining rigs. This is despite the sales report by the 2018 Q3 financials of the company that attributed blockchain’s contribution as per GPU-built mining chips as “negligible.”

 

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Joe Lubin Sees “Bright Future” for Ethereum: “Sky Not Falling”

Joseph Lubin, Co-Founder of Ethereum and Founder of ConsenSys sees a “very bright” future for Ethereum.

The ConsenSys founder’s comments give some comfort to Ethereum investors after a tumultuous year on the markets, which is only just beginning to show a bullish side in the lead into Christmas. His comments were responding to criticism of a proposed final total of 60% of staff being laid off due to significant ConsenSys restructuring.

The “sky is not falling” said Lubin after staff was notified last month of “a sweeping plan to make ConsenSys more focused and competitive in an increasingly crowded field,” with the adoption of ConsenSys 2.0.

“It’s focusing, it’s adding rigor, it’s adding accountability, and it’s opening ConsenSys up more to the world,” assured Lubin, but with some home truths for investors:

“Excited as we are about ConsenSys 2.0, our first step in this direction has been a difficult one: we are streamlining several parts of the business including ConsenSys Solutions, spokes, and hub services, leading to a 13% reduction of mesh members… Projects will continue to be evaluated with rigor, as the cornerstone of ConsenSys 2.0 is technical excellence, coupled with innovative blockchain business models.”

The wave of negative responses and tweets which followed the announcement of ConsenSys 2.0 prompted an attack from the Ethereum co-founder, arguing:

“What I’ve witnessed among the chattering class the past few weeks in response to ConsenSys 2.0 is a rather typical tune: the alarmed, the eulogistic, and the gleeful.”

Lubin argued that layoffs are not necessarily the outcome of the restructuring of ConsenSys stating that in the last week the company has hired 15, and has other positions available which the company is posting opportunities for, commenting that, “Some within ConsenSys whose roles have been eliminated recently are looking to fill other roles at ConsenSys. This is a rebalancing of our activities and workforce.”

Rather than “the sky falling” Lubin asserts that Ethereum protocol development is accelerating, resulting in “the continued maturation of the token economy, which will see many exciting consumer utility tokens and tokenized security launches in the new year.”

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Manila Residents Paid ETH for Consensys-Backed Beach Cleanup

beach cleanup

Manila residents are being paid in Ether for cleaning up the city’s plastic-ridden beaches in a new crypto for work project in the Philippine capital.

Recent research has shown that that five Asian countries — China, Indonesia, the Philippines, Vietnam and Thailand — account for more than 55% of global plastic waste leaking into the ocean. Indonesia, currently participating in a number of blockchain programs, is also a significant contributor to ocean pollution.

Manila’s beaches are listed as being some of the most heavily polluted beaches among these nations. Residents now have the chance to do something about this and be rewarded with cryptocurrency in the process. Stirring this social conscience is Ethereum’s co-founder Joe Lubin, who is also CEO of blockchain software giant ConsenSys.

He commented, “In Manila, participants will be paid in ETH for spending a few hours cleaning up one of the most heavily polluted beaches in the world. Bounties Network and ConsenSys Impact are proving a new model where people fund causes directly without intermediaries.”

Beach cleaning participants will be able to use a decentralized application (Dapp) based on the Ethereum blockchain to receive their rewards in ETH. The project is part of a larger ConsenSys program called ‘Bounties for the Oceans: Philippines Pilot – Sustained, Verifiable Plastic Cleanups’. The initiative states:

“Plastic pollution costs the lives of 1 million seabirds and 100,000 marine mammals per year… With Bounties for the Ocean, we are asking people everywhere to submit verifiable proof of their direct plastic cleanup contribution as a way of fostering widespread and long-term behavioral shift. Do not depend on centralized organizations, go out there and do it yourselves.”

Manila residents are not the only ones “doing it for themselves”. There are a number of blockchain programs around the world at the moment which are making a significant contribution to fighting pollution.

US cleaning supplies firm SC Johnson has announced that it plans to launch blockchain rewards-based recycling centers in Indonesia to help solve the problem of plastic pollution. The company, which also which owns such brands as Glade, Ziploc and Mr Muscle, will open eight centers with the support of Plastic Bank using a tokens-for-waste payment system for local users.

A Norwegian startup has come up with a way of using blockchain to clean beaches via token rewards for recycling. The public, by removing plastic waste to any certified recycling station, is rewarded with waste tokens. The idea draws on a system that has been in operation for some time throughout Norway where plastic bottles can be returned to shops for between 15 and 30 cents a bottle.

The Philippines project is well placed given the country’s adoption of Bitcoin and Ethereum as legitimate forms of payment by the central bank, with local platform Coins.ph conducting business using partnerships with major commercial banks, remittance outlets, credit card companies, electric grid operators, and convenience stores,

Having become the largest platform in Southeast Asia, Coins.ph has over 5 million users.

 

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Ethereum Founder and Coinbase CEO See Positive Growth in Crypto

Joe Lubin, co-founder of Ethereum, has commented that the fall in recent cryptocurrency prices is no constraint to future positive market growth.

The comments were made in an interview with Bloomberg yesterday when the ConsenSys CEO indicated that the big picture was the relevant factor for investors, and not to focus on “pimples on a chart” as he put it, referring the peaks and troughs of Bitcoin prices.

He spoke of the “bubble” factor, suggesting that each of the six major events has always bought a surge of activity. He argues:

“…we build more fundamental infrastructure, we see a correction, and the potential gets even more impressive… I absolutely expect that there is a strong correlation between the rise in price and the growth of fundamental infrastructure in the ecosystem and the growth of development in the ecosystem. We are probably two orders of magnitude bigger as a developer community than we were eight or ten months ago.”

The current market trend should be expected, Lubin suggests. He argues that much of the current volatility has to be put down to investor speculation rather than flaws in the underlying technology, suggesting that cryptocurrencies were very much still on the right positive trajectory. Regarding his own case as a CEO, he said:

“So we can look at the price and make growth plans and projections, and we’re still on track, basically. So this is not unexpected.”

Lubin added that each value surge over the past years indicated that the current situation is just like the last “six big bubbles, each more epic than the previous one, and each bubble is astonishing when they’re happening”.

In other news, Coinbase CEO Brian Armstrong has revealed that the company signed up 50,000 new customers a day last year and on Tuesday reflected Lubin’s view that the general trend is positive, suggesting:

“This technology is going through a series of bubbles and corrections, and each time it does that, it’s at a new plateau… People’s expectations are all over the map, but real-world adoption has been going up.”

At time of press, Bitcoin is currently trading at USD 6,429, up 6.47% on 24-hr trading. Ethereum is trading at USD 285, up by 6.93% on 24-hr trade.

 

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Ethereum Co-Founder Joe Lubin: Blockchain and Crypto Can Transform Society

Ethereum co-founder Joseph Lubin believes blockchain will have the same kind of impact in the future as the internet had in the late nineties, writes Business Insider. The co-founder of ConsenSys was speaking at the MoneyConf in Dublin where the blockchain company has opened its new office.

Lubin made it clear that he was looking for blockchain to make a lasting impact: “This technology is so profound, it’s going to do so many amazing things for economic, social, and political systems worldwide… We’ve really no concern that the ecosystem or the technology is in real danger.”

He went on to compare current activity fintech space to the dot-com boom of the late 90s, a period of extreme growth and intense activity in the usage and adaptation of the internet. Lubin suggested there was clearly a parallel today, given the same degree of high investment coupled with high gains and losses in cryptocurrency activity, according to the success of company projects.

The entrepreneur argued that the growth of the internet was mirrored today by current developments in the space, as cryptocurrencies and their underlying technology were repeating history:

“There was a tremendous amount of creative destruction in the dotcom era that laid the foundation and taught all of us how to build an effective internet, an effective world wide web, and really transform society. I think that we will see dynamics like that in place in the blockchain space.”

He was clear in his views that although scams are clearly not welcome, they don’t impact of the overall image of the industry, and that the US Securities and Exchange Commission (SEC) was right in taking these issues on in order to clean up the space. He put the crypto “bad-actor syndrome” down to the failings of human nature and the fact that cryptocurrency investment was open for all.

Lubin pointed to the West in terms of where some of the most progressive movements in the industry were originating, citing the US and Europe as the major source of innovation.

 

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